If the bank forecloses on my home in Florida. Can they put a lean on property I own in Tennessee?

Asked by chaancie, Sebastian, FL Thu Oct 25, 2012

Help the community by answering this question:

+ web reference
Web reference:

Answers

2
Ann Ryan, Agent, Doral, FL
Thu Oct 25, 2012
Chaancie... do NOT wait... see if you can do a short sale NOW... NOW before the foreclosure happens!

If you send me an e-mail, I'd be happy to send you a list of short sale negotiators in Florida who have closed hundreds of these deals. I can also check the current status of the property for you.

In my area, a correctly priced short sale can get multiple offers within just a week or so to take to the bank.

Ann
0 votes
Ron Thomas, Agent, Fresno, CA
Thu Oct 25, 2012
The short and nasty answer is; probably!
Florida is a RECOURSE State; meaning that they can seek a DEFICIENCY JUDGEMENT against homeowners who default.

We haven't seen too much of D.J. yet;
it can vary from State to State,
The time elements for when they can file can vary;
The Federal Government is leaving it up to the States, so far.

One of the biggest questions may be;
Does the defaulter have a bunch of hidden assets, and can the Bank disclose them?

Good luck and may God bless
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more